Housing group lands grants worth $1.5M

Funding will go toward more than 200 rental units

DALLAS — The Federal Home Loan Bank of Dallas, in partnership with its member financial institutions, has awarded $16.3 million in Affordable Housing Program grants to 34 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 2,057 housing units.

In Texarkana, FHLB Dallas and Bank OZK awarded Texarkana Public Facility Corporation two grants: one for $750,000 for 130 rental units and one for $750,000 for 94 rental units.

Texarkana Public Facility Corporation is a component of the Housing Authority of Texarkana. According to the Texarkana Gazette, HATT has previously been involved in projects providing housing for low-income families.

FHLB Dallas annually returns 10% of its profits in the form of AHP grants to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing-cost assistance for qualified firsttime homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.

Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $300 million in AHP and AHP set-aside programs, such as Homebuyer Equity Leverage Partnership and Special Needs Assistance Program, have assisted more than 53,500 households.